Tds deduction as per it specified short deduction letter
This query is : Resolved
04 August 2015
Dear Sir,
We have received letter from our transporter to deduct short TDS @ 0.8% in place of 2% and has attached authority letter from Income tax department for the short deduction.
It is compulsory to deduct tds as per the income tax authority letter?
what will be the consequences if we deduct TDS at normal rates.
Please guide
We have received letter from our transporter to deduct short TDS @ 0.8% in place of 2% and has attached authority letter from Income tax department for the short deduction.
It is compulsory to deduct tds as per the income tax authority letter?
what will be the consequences if we deduct TDS at normal rates.
Please guide
04 August 2015
No consequences for higher deduction. No compulsion to deduct at lower rate.
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